Streetbeat News

SLGC

SomaLogic Inc

CEO

Adam Taich

Employees

517

Industry

Testing Laboratories

revolutionizing proteomics to transform healthcare somalogic was founded in 2000 with the goal of improving the well-being and quality of life of every individual by transforming how diseases were detected and diagnosed. building on the previous decade of aptamer research, somalogic scientists have developed a new proteomics technology that overcomes the significant challenges of current technologies, and which has multiple applications across the biological and medical sciences. our mission is to leverage our proprietary technology to discover, develop and commercialize revolutionary new life science research tools and breakthrough clinical diagnostic products that will transform healthcare. if you would like to learn more about somalogic, contact us at information@somalogic.com or 303-625-9000

Open

2.16

Mkt cap

396M

Volume

34M

High

2.31

P/E Ratio

-3.04

52-wk high

3.79

Low

1.93

Div yield

N/A

52-wk low

1.73

Trading for SLGC was halted and then resumed at 10:10 AM ET, with an update on news and resumption times.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 3:10 pm

Standard BioTools shareholders have approved a merger with SomaLogic, as reported late Thursday. This move could potentially combine the resources and capabilities of both companies to create a stronger entity in the biotechnology sector.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 6:18 am

Madryn Asset Management, a significant shareholder of SomaLogic, has publicly opposed the proposed acquisition of Standard BioTools by SomaLogic. Madryn believes the transaction is not in the best interests of shareholders and has urged them to vote against it. The firm criticizes the deal's strategic rationale, financial terms, and potential impact on SomaLogic's future.

Portfolio Pulse from Bill Haddad

January 04, 2024 | 7:26 pm

SomaLogic's founder Larry Gold and CTO Jason Cleveland have issued an open letter to stockholders expressing opposition to the company's proposed merger with Standard BioTools. They believe the merger is not in the best interest of shareholders and are urging them to vote against it.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 9:24 pm

Madryn Asset Management has sent a letter to Institutional Shareholder Services expressing concerns over the proposed merger between SomaLogic and Standard Biotools. Madryn argues that the current merger terms undervalue SomaLogic's assets, offering no premium and effectively discounting the company's cash position. The letter also points out potential conflicts of interest, as hedge fund manager Eli Casdin is a director of both companies. Madryn emphasizes that SomaLogic, with over $450 million in cash and clear value catalysts, does not need a rushed merger that would disadvantage its common shareholders.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 6:10 am

SomaLogic, Inc. (SLGC) has issued a letter to its stockholders urging them to vote in favor of a merger with Standard BioTools (LAB), scheduled for a vote at a special meeting on January 4, 2024. The merger is expected to build scale, accelerate profitability, and unlock significant value for SomaLogic stockholders, with a projected $300 million in combined revenue by 2026 and $80 million in cost synergies. The SomaLogic Board believes the merger is the best path forward, countering concerns raised by a small group of stockholders. The combined company will have over $500 million in cash and only $68 million in debt, with SomaLogic stockholders owning 57% post-merger. The transaction is set to close in the first quarter of 2024, pending stockholder approval and other conditions.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 1:07 pm

Madryn Asset Management, which holds 4.2% of SomaLogic shares, has issued a letter to shareholders highlighting false and misleading statements in the December 19 investor presentation regarding the proposed merger with Standard BioTools.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 12:37 pm

Skye Fund III, a significant shareholder of SomaLogic, Inc. (SLGC), opposes the proposed merger with Standard BioTools Inc. (LAB), stating the deal undervalues SomaLogic. Skye Fund III highlights SomaLogic's strong balance sheet, cash reserves, and revolutionary technology, contrasting it with Standard BioTools' flat revenue and net losses. They also raise concerns about potential conflicts of interest involving board members. Skye Fund III plans to vote against the merger at the upcoming shareholder meeting.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 2:11 pm

Skye Fund III has publicly opposed SomaLogic's proposed merger with Standard BioTools, intending to vote against it. Skye Fund III argues that the merger undervalues SomaLogic, overlooks its innovative products, cash reserves, and financial health. They believe SomaLogic can succeed independently and raised concerns about potential conflicts of interest in the merger.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 2:05 pm

Quanex Building Products Corporation (NYSE:NX) shares dropped by 10.7% to $30.95 after reporting Q4 financial results. Other stocks experienced significant movements in Friday's mid-day session, with notable gainers including Getaround, Inc. (NYSE:GETR), Battalion Oil Corporation (NYSE:BATL), and Bruush Oral Care Inc. (NASDAQ:BRSH), among others. Losers included Chanson International Holding (NASDAQ:CHSN) and Inno Holdings Inc. (NASDAQ:INHD), with significant drops after recent gains or IPO pricing.

Portfolio Pulse from Avi Kapoor

December 15, 2023 | 5:46 pm

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